Despite Bitcoin’s failure to breakout, the bulls managed to pull off a nearly 11% rally in May. This was the first positive close in May after three years of poor monthly performance.

This provides positive momentum for buyers to continue the bullish momentum in June.

Can buyers defend the support levels of Bitcoin and altcoins? Let’s analyze the chart to find out.

Bitcoin Price Analysis

On May 30, Bitcoin rebounded from the support line of the symmetrical triangle pattern but the bulls failed to sustain the higher levels.

The bulls must push the price above the triangle to gain the upper hand. This could spark a rally to the overhead resistance at $73,777. Strong defense by the bears is expected at this level.

Conversely, if the price continues to move lower and breaks below the support line, it will indicate that the bears have seized control.

A drop to $64,600 and eventually to the critical support at $59,600 is possible. The bulls are likely to buy in the area between $56,550 and $59,600.

Ethereum Price Analysis

Ether (ETH) is once again attempting to rebound from the breakout level of $3,730, which suggests that the bulls are defending this level.

The 20-day EMA ($3,559) is sloping up and the RSI is in the positive territory, which suggests that the bulls have the upper hand. Buyers will try to push the price above the strong resistance of $4,100. This is an important level for the bears to defend as a breakout of this level will clear the way for a rally to $4,868.

Conversely, if it turns down and breaks below $3,730, it will suggest that the positive momentum has weakened. If the bears sink the price below the 20-day EMA, the advantage will tilt in favor of the bears.

BNB Price Analysis

BNB (BNB) has been gradually declining towards the uptrend line, which is likely to act as a strong support.

If the price rebounds strongly from the uptrend line, the bulls will once again try to push the pair above the overhead resistance of $635. If this level is broken, the pair will complete the ascending triangle pattern. The pattern target for this bullish setup is $775.

Conversely, if the price breaks below the ascending trendline, the bullish pattern will be invalidated. This could accelerate the sell-off and take the pair down to $536 and then to the important support level of $495.

Cryptocurrency always has infinite possibilities. Don't get carried away. Do more detailed research. I believe you can also seize the opportunity. Don't fall behind. Follow us. Find the homepage and continue to share with Honey Horse.